Payroll Sr Analyst - Hybrid

Job Description

The Payroll Accounting Sr Analyst at Citi is a seasoned professional role and plays a crucial role in ensuring the accurate and timely processing of payroll for a large number of employees across multiple states. This role requires a deep understanding of payroll accounting principles, compliance with applicable laws and regulations, and adherence to Citi's internal control framework. The Payroll Accounting Sr Analyst will work closely with the Payroll Accounting Manager to oversee daily operations, provide support to the payroll team, and ensure the integrity of Citi's payroll systems and data. Applies in-depth accounting knowledge, contributing to the development of new techniques and the improvement of processes and workflow for the Payroll Accounting function. Integrates subject matter and industry expertise within the Payroll Accounting area. Requires in-depth understanding of how accounting area collectively integrate within the wider Payroll and Finance as well as coordinate and contribute to the objectives of the function and overall business. Evaluates moderately complex and variable issues with substantial potential impact, where development of an approach/taking of an action involves weighing various alternatives and balancing potentially conflicting situations using multiple sources of information. Requires good analytical skills in order to filter, prioritize and validate potentially complex and dynamic material from multiple sources. Significant impact in terms of project size, geography, etc. by influencing decisions through advice, counsel and/or facilitating services to others in area of specialization.

Key Responsibilities:

• Assist in the preparation and processing of multi-state payroll, including salaries, bonuses, benefits, taxes, and other deductions, strictly adhering to Citi's Compensation Related Expenses Standard (Compensation Related Expenses Standard) and the Accounting, Ledger and Close Policy (Accounting, Ledger and Close Policy).

• Process payroll adjustments, such as garnishments, tax levies, and benefit deductions, ensuring accurate accounting treatment and compliance with relevant regulations.

• Reconcile payroll-related general ledger accounts and prepare journal entries, adhering to the guidelines set forth in the Accounting, Ledger and Close Standard (Accounting, Ledger and Close Standard).

• Stay abreast of changes in payroll laws, regulations, and best practices, proactively identifying any potential impact on Citi's payroll operations.

• Serves as subject matter expert for payroll accounting processes and procedures.

• Assist in development and implementation of payroll policies and procedures, ensuring alignment with Citi's overall control environment and risk management framework.

• Assist with internal and external audits related to payroll accounting, providing necessary documentation and support to ensure a smooth audit process.

• Executes test plans, identifies and documents discrepancies found through the ability to accurately assess output against expected results; Resolves discrepancies with technical and/or business personnel, communicates issues and results clearly, and retests as required

• Perform other duties as assigned, demonstrating flexibility and adaptability to meet the evolving needs of the payroll department.

• Collaborate with Finance and HR teams to ensure payroll accuracy and financial integrity.

• Serve as backup for payroll Accounting manager when needed.

• Plans and execute complex projects and coordinate over a broader departmental spectrum. Regularly assumes informal leadership role within teams.

• Assist in training new team members on payroll accounting processes and systems.

• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.

• Ensure that the Equity Comp tax related transactions (Foreign Wires, Payroll, and Expats rejects) that are processed against the Foreign & Domestic GL account are reconciled and cleared in a timely manner. Any remaining balances or variances on the General Ledger should be researched and cleared or escalated to the proper individuals.

• Ensure the expat Centralized GOC (CGOC) GL balance net to zero at the end of each month or shortly thereafter.

• Equity Compensation International Tax Allocation: This role involves running the "540 Report" from the CERA system monthly to allocate taxes by country. Based on these allocations, wire transfers are processed from US Treasury to the corresponding country's STAAR account. This enables the respective countries to pay taxes to their local tax agencies.

• Global Deferred Cash and Dividend Reconciliation Support: This role assists in reconciling global deferred cash and dividends, comparing Award IDs against payout confirmations. It requires close collaboration with the Equity Compensation Unit team to obtain vested Award and Tranche IDs, and with HR regional coordinators to receive payout confirmations. The resulting reconciliations are provided to the Finance team to substantiate the full keys related to equity compensation.

Qualifications:

•  5-8 years of experience in payroll accounting, preferably in a multi-state environment and within a large, complex organization.

• Strong knowledge of payroll laws and regulations, including federal, state, and local requirements.

• Strong knowledge of payroll systems (Workday, Full Suite, GL Canada, Flexcube and Cosmo).

• Proficiency in Microsoft Excel and Financial reporting tools.

• Proficient in payroll software and systems, with experience in using Citi's deployed compensation and payroll systems.

• Excellent analytical and problem-solving skills, with the ability to identify and resolve payroll discrepancies efficiently.

• Strong attention to detail and accuracy, ensuring the integrity of all payroll data and transactions.

• Ability to work independently and as part of a team, collaborating effectively with colleagues and stakeholders.

• Excellent communication, diplomacy and interpersonal skills, conveying complex information clearly and concisely.

• Strong understanding of internal controls and risk management principles, ensuring compliance with Citi's policies and procedures.

• Ability to maintain confidentiality and handle sensitive employee information with discretion.

Education:

• Bachelor’s/University degree in Accounting, Finance or a related field or equivalent experience

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In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

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